Braskem SA (BAK) Shares Down 1.7%
Braskem SA (NYSE:BAK) shares were down 1.7% during trading on Thursday . The company traded as low as $13.51 and last traded at $13.56, with a volume of 149,492 shares. The stock had previously closed at $13.80.
A number of research analysts have commented on BAK shares. Zacks Investment Research raised Braskem SA from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a report on Wednesday, April 27th. Bank of America Corp. raised Braskem SA from a “neutral” rating to a “buy” rating in a report on Tuesday, May 24th.
The firm has a 50 day moving average price of $12.29 and a 200 day moving average price of $12.54. The company has a market cap of $5.36 billion and a price-to-earnings ratio of 5.83.
An institutional investor recently raised its position in Braskem SA stock. Morgan Stanley increased its stake in shares of Braskem SA (NYSE:BAK) by 83.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,344,284 shares of the company’s stock after buying an additional 611,328 shares during the period. Morgan Stanley owned 0.34% of Braskem SA worth $18,201,000 at the end of the most recent reporting period.
Braskem SA produces thermoplastic resins. The Company’s segments are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, the provision of industrial services, and the production, supply and sale of electric energy.
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